Common use of Modification to and Ratification of Agreement Clause in Contracts

Modification to and Ratification of Agreement. For purposes of this Supplement and each Collateral Series: (a) Sections 3.07 (Tax Treatment) and 12.01(c) (Termination of Trust) shall not be applicable to any Collateral Series; and (b) For purposes of voting with respect to any consent, approval, waiver, direction or other matter under the Agreement or this Supplement, (i) each class of notes included in any Note Series shall be deemed to be a Class of Certificates in the related Collateral Series, (ii) the Outstanding Amount (as defined in the Indenture) of each class of notes shall be deemed to be its unpaid Initial Investor Interest, (iii) the Indenture Trustee shall vote with respect to any consent, approval, waiver, direction or other matter under the Agreement or this Supplement, but only as directed by the beneficial owners of such notes and the (iv) provisions for voting by beneficial owners of such notes specified in the Indenture shall apply mutatis mutandis to voting under the Agreement and this Supplement. (c) In addition, to the extent that the terms of this Supplement (directly or as supplemented by any Indenture Supplement) are deemed to be inconsistent with the terms of the Agreement, this Supplement shall be deemed to modify or amend the terms of the Agreement solely as applied to each Collateral Series affected by any such inconsistency, as permitted by Section 6.09(c) of the Agreement. Otherwise, as amended and supplemented by this Supplement (and the various Indenture Supplements executed from time to time), the Agreement is in all respects ratified and confirmed and the Agreement as so amended and supplemented by this Supplement shall be read, taken and construed as one and the same instrument.

Modification to and Ratification of Agreement. For purposes of this Supplement and each Collateral Series: (a) Sections 3.07 (Tax Treatment) and 12.01(c) (Termination of Trust) shall not be applicable to any Collateral Series; and. (b) For purposes of voting with respect to any consent, approval, waiver, direction or other matter under the Agreement or this Supplement, (i) each class of notes included in any Note Series shall be deemed to be a Class of Certificates in the related Collateral Series, (ii) the Outstanding Amount (as defined in the Indenture) of each class of notes shall be deemed to be its unpaid Initial Investor Interest, (iii) the Indenture Trustee shall vote with respect to any consent, approval, waiver, direction or other matter under the Agreement or this Supplement, but only as directed by the beneficial owners of such notes and the (iv) provisions for voting by beneficial owners of such notes specified in the Indenture shall apply mutatis mutandis to voting under the Agreement and this Supplement. (c) In addition, to the extent that the terms of this Supplement (directly or as supplemented by any Indenture Supplement) are deemed to be inconsistent with the terms of the Agreement, this Supplement shall be deemed to modify or amend the terms of the Agreement solely as applied to each Collateral Series affected by any such inconsistency, as permitted by Section 6.09(c) of the Agreement. Otherwise, as amended and supplemented by this Supplement (and the various Indenture Supplements executed from time to time), the Agreement is in all respects ratified and confirmed and the Agreement as so amended and supplemented by this Supplement shall be read, taken and construed as one and the same instrument.